Financial sector inefficiencies and coordination failures implications for crisis management
In a country where financial intermediation is highly inefficient (with the enforcement costs of loan contracts very high, for example), or in one experiencing great volatility and large adverse shocks in output, the likelihood of an inefficient equilibrium is great. In East Asia it may be in the in...
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| Format: | eBook |
| Language: | English |
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Washington, DC
World Bank, World Bank Institute, Economic Policy and Poverty Reduction
1999
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| Series: | Policy research working paper
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| Collection: | World Bank E-Library Archive - Collection details see MPG.ReNa |
| Summary: | In a country where financial intermediation is highly inefficient (with the enforcement costs of loan contracts very high, for example), or in one experiencing great volatility and large adverse shocks in output, the likelihood of an inefficient equilibrium is great. In East Asia it may be in the interests of both debtors and creditors to collectively reduce the face value of debt, to reduce inefficiencies in the financial sector |
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| Item Description: | "September 1999. - Cover title. - Includes bibliographical references (p. 19-20) |
| Physical Description: | 20, [3] p ill 28 cm |